Kinross Gold Corp (KGC)

[goldenpolarbear]

"...Kinross Gold seeks to divest its Russian assets, says in exclusive negotiations with potential buyer..."

"... Kinross added it has received a number of unsolicited proposals regarding its Russian business and is now in exclusive negotiations with a third-party mining company regarding a potential sale of 100% of its assets in the country.

“Any such divesture or change of control would be subject to Russian government approval,” the company noted in a statement.

The company also said that its Russian subsidiaries are continuing to operate during the transition period and that it will also continue to manage and mitigate the environmental impacts of its operations.

“The parent company will not benefit financially from the operations while the transition plan is finalized. Current activities will be funded through resources already in-country, with no additional investment required by the parent company,” Kinross said in a press-release...."

https://www.kitco.com/news/2022-03-29/Kinross-Gold-seeks-to-divest-its-Russian-assets-says-in-exclusive-negotiations-with-potential-buyer.html

How is Kinross going to get approval from the Russian government if ever? https://thenarwhal.ca/canadian-companies-russia-sanctions/

https://www.mining.com/kinross-in-negotiations-to-sell-russian-mines/

https://www.reuters.com/breakingviews/russias-gold-reserves-buy-putin-few-options-2022-03-28/

https://www.kitco.com/news/2022-03-29/Japan-outlaws-gold-exports-to-Russia-steps-up-sanctions.html